All kinds of factors impact the price of precious metals, but supply and demand are the most fundamental. With that in mind, the stage seems to be set for silver to have a strong year in 2018.
According to the Silver Institute 2018 Market Trends report, the silver market faces growing demand and shrinking supply in 2018.
I’ve got bad news for all you aspiring Olympic champions out there. Your gonna get hosed. Your first-rate effort will win you a second-rate prize.
Get this – the Olympic gold medal is mostly made out of silver. True story. The gold medal is actually formed mostly out of silver coated with about 6 grams of gold plating.
So, gold medal winners – for all practical purposes – you’re getting a silver medal.
Sorry about your luck.
There are signs that December was a strong month for global gold demand.
It’s a new year. That means it’s time for New Year’s resolutions!
By that I mean it’s time for other people to make some New Year’s resolutions. I don’t do that. Resolutions are for suckers.
Silver had a tough year in 2017, with flat demand and shrinking supply. Even with these headwinds, the white metal still gained more than 6% on the year. With demand growing in key industrial sectors and supply tightening, it appears silver is poised for a strong year in 2018.
In its most recent issue of Silver News, the Silver Institute outlines the 2017 silver market data compiled in the GFMS/Thomson Reuters’s Interim Silver Market Review and highlights a number of technological innovations involving silver.
Lost in the shadow of gold and cryptocurrency, silver quietly gained over 6% in 2017. Even so, the white metal was considered an underperformer. Gold was up better than 12% on the year. But with silver languishing a bit behind gold, there are strong indications that 2018 could prove to be a big year for the white metal.
In fact, according to an article in the Business Standard, mainstream investors have started betting big on silver in anticipation of a big price upswing in 2018.